Gulf Oil and Gas accountACCOUNT

ADNOC to Start Monthly Oil Product Deliveries to Egypt

Source: Reuters 4/16/2015, Location: Africa

Share |
State-run Abu Dhabi National Oil Company will start monthly deliveries of $400 million of petroleum products to Egypt from next week until the end of October, a source at the state-owned Egyptian General Petroleum Corporation ( EGPC ) said.

"It is expected the first shipments will arrive in a week from now," the source said. He added that Egypt will receive the products on credit and was still negotiating the interest rate for payment. ADNOC is seeking a 3 percent rate, the source said.

The deal to supply the products was agreed last year.

Earlier this month traders said ADNOC had issued a tender to buy up to nine cargoes, or 300,000 tonnes, of gasoil for delivery into Egypt in April.

The Egyptian government had said EGPC will buy 65 percent of its oil product import needs from ADNOC in 2015. The agreement covers gasoline, diesel, heavy fuel and liquefied petroleum gas.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Oil News in Egypt >>

Nigeria >>  8/1/2018 - KBR, Inc. has been awarded an LNG FEED contract by Nigeria LNG (NLNG) for further expansion of the Bonny Island LNG plant at Bonny Island, Nigeria. ...
Egypt >>  7/24/2018 - HA Utilities, the utilities arm of leading regional construction and engineering group Hassan Allam Holding (HAH) is entering a joint venture (JV) wit...

Morocco >>  7/23/2018 - Sound Energy, the Moroccan-focused upstream gas company, announces, following the initial success in Eastern Morocco and in anticipation of the forthc...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |

More News

 

Oil & Gas Companies in Egypt >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.